Top News

If you are planning to purchase an LIC policy, this information is important for you. LIC launched two new life insurance policies on September 1st. Each offers distinct benefits; here are the full details.

In today's world, everyone desires financial security for their family, leading many to opt for insurance policies to meet future financial needs. If you are also planning to buy an LIC policy, this news is for you. LIC has introduced two new life insurance policies. Let us explore which policies have been launched and the benefits they offer.

When were these policies launched?

LIC introduced these two policies for customers to mark its 70th anniversary. Both plans were launched yesterday, September 1st. The policies are 'LIC Bima Platinum' (Plan 770) and 'LIC Jeevan Raksha' (Plan 894).

When can these plans be purchased?

According to the details, customers can purchase these plans starting from September 7, 2026. Crucially, these policies can be bought through both offline and online channels.

How to purchase offline and online?

If you prefer not to buy online, you can purchase them through LIC agents, brokers, or corporate agents. Alternatively, you can buy them online via LIC's official website.

What is LIC Bima Platinum (Plan 770)?

LIC Bima Platinum (Plan 770) is designed specifically for individuals seeking a combination of savings, life cover, and future income.
Additionally, during the premium payment term, an amount of ₹70 is added annually for every ₹1,000 of the premium. This plan offers a minimum sum assured of ₹3 lakh, with no upper limit set on the maximum amount.
Premiums can be paid over a period of 7, 10, 12, 15, or 18 years.
Additionally, if the policyholder survives for five years after the premium payment term ends, they receive a 'Booster Income' equal to 70% of the sum assured.
Furthermore, during the payout period, 10% of the basic sum assured is paid out annually as 'Regular Income'.
This is a non-participating, non-linked policy.

What is LIC Jeevan Raksha (Plan 894)?

Let us now understand what LIC Jeevan Raksha (Plan 894) is. This plan is particularly suitable for individuals seeking life cover to provide financial security to their families.
If the policyholder passes away during the policy term, a guaranteed death benefit is payable in accordance with the terms and conditions.
You can opt for an insurance cover ranging from ₹5 lakh to ₹24 lakh under this plan.
Individuals aged between 18 and 45 years are eligible to purchase this plan.
Special rates are available for women.
The plan focuses on providing financial security to family members.
It is a non-participating, non-linked, pure-risk plan.